Inventronics Announces 2011 Q1 Financial Results
27 Maggio 2011 - 8:57PM
PR Newswire (Canada)
CALGARY, May 27, 2011 /CNW/ -- CALGARY, May 27, 2011 /CNW/ -
Inventronics Limited ("Inventronics" or the "Corporation") (IVX:TSX
Venture), a designer and manufacturer of custom enclosures for the
telecommunications, electric transmission, cable television and
other industries in North America, today announced its unaudited
2011 first quarter financial results. For the three months ended
March 31, 2011, Inventronics reported a net loss of $109,000, or
2.5 cents per share, on sales of $1,162,000 compared to a net loss
of $114,000, or 2.6 cents per share, on sales of $1,560,000, for
the first quarter of 2010. Selected Financial Information Income
Statement Highlights (in thousands of dollars, except per share
amounts) Three Months Ended March 31 March 31 2011 2010 Sales 1,162
1,560 EBITDA 77 81 Net loss (109) (114) Basis loss per share (2.5)¢
(2.6)¢ Balance Sheet Highlights (in thousands of dollars) March 31
December 31 As at 2011 2010 Working (2,228) (2,258) capital 3,974
4,113 Capital assets - - Long-term 1,746 1,855 debt, excluding
current portion Shareholders' equity About Inventronics
Inventronics Limited designs and manufactures custom enclosures and
other products for an array of customers in the telecommunications,
electric utility, cable television, electronics and computer
services industries in North America. The Corporation owns its ISO
9001-registered production facility in Brandon, Manitoba. Shares of
Inventronics trade on the TSX Venture Exchange under the symbol
"IVX." For more information about the Corporation, its products and
its services, go to www.inventronics.com. Disclaimer This news
release may contain forward looking information that represents the
Corporation's internal projections, expectations, estimates or
beliefs concerning, among other things, future operating results
and various components thereof or the Corporation's future economic
performance. These statements relate to future events or
future performance. All statements other than the statements
of historical fact may be forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may", "will", "should", "expects", "projects", "plans",
"anticipates", and similar expressions. The projections,
estimates and beliefs contained in such forward-looking statements
are based on management's assumptions relating to the production
performance of Inventronics' assets, the cost and competition
throughout the telecommunications industry and the continuation of
the current regulatory and tax regimes in the jurisdictions in
which the Corporation operates, and necessarily involve known and
unknown risks and uncertainties, including risks and assumptions
relating to exchange rates, costs of production, outlook for sales,
and other factors that may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. Accordingly, readers are
cautioned that events or circumstances could cause results to
differ materially from those predicted. Except as otherwise
required under applicable securities laws, the Corporation does not
undertake to update any forward-looking information in this
document whether as to new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. To view this news release in HTML formatting,
please use the following URL:
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bW. Garth Wilson, CFO/b (204)
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href="mailto:investor@inventronics.com"investor@inventronics.com/a
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